KISS Crypto Hesitation Goodbye With Sports Betting

Farewell to crypto

One of the difficulties in getting people to use cryptocurrency for legal online sports betting is that most people don’t understand how crypto works.

This is often an insurmountable barrier to crypto adoption in general, and in recent years it has discouraged many people from getting rich and retiring at 40.

The solution to this — which is badly needed for crypto to go mainstream and find truly ubiquitous use (and all the benefits that come with it for early adopters) — is for people to stop asking this question.

you know him Whenever you promote your latest biggest coin du jour, you’ll hear it:

“But how does it work?”

Plant the seed

Well, you probably don’t want to come straight out and say, “I don’t know, who cares,” but that’s just a matter of tactics. The mood is absolutely right.

Because let’s be 100% honest, here: who the hell cares? Unless you’re a data scientist with a background in cryptography or something, you won’t understand the answer anyway.

But that won’t convince a timid Normie. It might be better for them to ask a question right away:

“How does the dollar work?”

They will tell you that you can use the dollar to buy stuff.

So you will tell them that they can use crypto to buy stuff.

They will tell you that crypto is up and down too much.

So they will tell them that the dollar is falling and only too much.

They will tell you that they already use the dollar for everything.

And this could be it.

That last claim is hard to dispute because being locked into an ecosystem is one thing. That’s why you don’t switch to Android if you’ve been using iPhone for a decade, and vice versa. That’s why you won’t get a Rakuten Kobo for your next e-reader if all your previous e-readers were Amazon Kindles.

The dollar is an established and trusted ecosystem.

complete the agreement

But if they don’t make that final reply, you have some room to work and can double back by circling.

Again, ask them to think—really think—what the dollar is and how it works.

Not the superficial stuff, mind you. Not the fact that you can use it to buy goods and services. In this context, it’s really no different than crypto.

Instead, ask them to explain how the dollar gets its value, why inflation occurs and how it can be predicted, and so on.

Ask them to identify for you the mechanisms in place, nationally and internationally, that make the dollar the dollar.

Ask them to tell you how the government decides how many sheets of the stuff to print at any given time.

Ask them what safeguards are in place to combat hyperinflation from these pressures.

Ask them how circulation is calculated and managed with actual accuracy.

Ask them to explain – for heaven’s sake, would someone please explain! – the Federal Reserve.

Ask them all these questions and sit back because you’re unlikely to get a sensible answer.

If you go this route, most people will get the hint fairly quickly.

Because the answer will invariably be that no one has any idea how or why the dollar is doing what it is doing beyond that first superficial assertion that crypto is functionally identical. At least at the top.

From there, you can extol the merits of crypto ad infinitum ad nauseum. But don’t press too hard. Save that for later.

At this point, you should take five minutes and walk you through setting up a Coinbase account (or an account on whatever exchange you personally use and trust) along with something like Atomic Wallet.

Walk them through a $20 or $50 deposit, show them the live crypto market cap, and explain why you like or dislike a specific top 25 crypto coin.

Then pick a coin that you trust to show near-term growth (even if that growth is minimal) and let them convert their fiat money into that crypto.

You won’t be able to shut them up about crypto in a week or two.

what not to do

With this approach of simplicity, it’s also important to convey all your knowledge of what not to do.

Because as soon as a newcomer sees his first winnings, he will be amazed. And we mean excited. That needs to be mitigated.

The temptation to start day trading and swing trading right away – that is, selling your coins when you think the value is “high” to buy another cryptocurrency that is trending “low” to reverse direction once your original Coin loses value in the markets – becomes extreme.

The desire to stock up on 1.2 gorillion shitcoins for $20 Cardano or Solana is going to itch like hell.

Make sure your new crypto brother avoids these pitfalls. Tell them to pick a coin (or two or three) and ride with it. Sure, everyone wishes they’d bought Shiba Inu when it was worth nothing more than it is today, but in hindsight it’s 20-20 and ironically it blinds you to the present and the future.

Just aside, this is actually what happened to a friend of mine in IRL:

I bought $500 worth of Cardano when it was trading at $0.04 apiece. I got my buddy to do the same so we both ended up with about 12,500 ADA coins. But while I put mine in a wallet and forgot about it for a few years, he didn’t. He began to see small gains and tirelessly traded this for that and that and back again, day after day after day.

And when ADA hit its all-time high of around $3.09, I was sitting at around $38,625. He had about $1000 in total in his portfolio. During all this time he never paid out a penny, but all day trading cost him a lot.

Of course I screwed up by not cashing out above, but the top never looks like the top when it counts. The most important thing is to pull out your capital and play with house money. (I didn’t do that, of course, but I’m extremely lazy about all this.)

However…

They also want to warn the crypto newbie not to read too many crypto blogs.

One of the most annoying things about crypto is all the touts that have popped up over the years. (And yes we do sometimes, but only in relation to crypto sports betting and only in relation to the coins the sites we reviewed actually accept.)

Most of these blogs are utter baloney and nonsense, throwing around fancy but meaningless financial terms as if they mean something relevant to 99% of actual crypto users.

These sites don’t give you better investment advice than here (LMAO).

But depending on where you get your information from, they can give you much worse advice.

Sell ​​the gambler

For gamers and sports bettors in particular, crypto should be an easy sell.

Even for those who are hesitant for the above reasons, you can promote crypto (and we’re not talking about a specific coin here, we’re talking about the crypto concept in general) by simply presenting the stuff as gambling.

If a bettor has ever placed a sports bet, placing a cryptocurrency bet is conceptually identical: sports betting is a gamble, crypto is a gamble, and if you hit both, your payout can be all the better.

They can also sell the idea that you don’t have to understand all the intricacies of a thing to use that thing.

Most sports bettors are not too familiar with advanced tactics like hedging bets or moving lines. They don’t play around with exotic bets like round robins or teasers or pleasers.

Most bettors understand the spread, they understand the straight and they can worry about totals and props. Even the parlay analogy above might be a bridge too far since most players generally don’t parlay.

In other words, you don’t need to understand everything about cryptocurrency to start profiting from it. Really, that’s the whole point of this diatribe.

TL;DR: Just keep it stupid.

Dave Gallo

Dave Gallo is a pioneering sports analytics expert, renowned for his revolutionary work in AI-driven sports simulations, projections, and advanced statistical analysis. With a profound passion for sports and technology, he crafts cutting-edge computer models that accurately predict outcomes. Dave's game-changing insights have reshaped strategy, player evaluation, and decision-making across various sports. His dynamic presentations make complex analytics accessible and inspiring, ensuring his legacy as a visionary in sports analytics. Check out Dave's Pick Record.

Recent Posts